Celanese (NYSE: CE), the world's leading chemical technology and specialty materials company, and Nilit, which independently produces high-performance nylon polymers, fibers, and composites, announced that they have acquired Nilit Plastics' nylon The blending modification business jointly signs the final agreement. Celanese will acquire Nilit Plastics' nylon blend modification product portfolio and customer agreements, manufacturing plants, technology and commercial facilities. NILIT will retain ownership of its nylon fiber and nylon polymerization businesses worldwide, including facilities in Israel, the United States, China and Brazil. Financial details of the transaction were not disclosed.
"Nylon composites are the materials of choice for automotive, electrical, consumer, and industrial applications. This acquisition demonstrates Celanese's intention to complement the broad product portfolio and become the world's leading provider of nylon blend modification." Sierra Scott Sutton, Executive Vice President of Nice and President of Materials Solutions, said, "Celanese will continue to expand its global position in the engineering plastics business through the acquisition of Nile Plastics. Nylon has continued to be favored in a number of growth industries. The key products, solutions, and customer-oriented R & D concepts that have already been focused on coincide with each other. "
"Nilit Plastics is one of the companies with the broadest nylon product portfolio in the nylon modification market. This is based on the company's technical expertise in nylon modification and a deep understanding of target markets and product applications." Director of Nilit Plastics General Manager Ilan Melamed said, “Nilit Plastics is regarded by the market and customers as a solution provider with the ability to develop and produce composites that precisely meet the needs of the application. We are pleased to join the Celanese family and bring our world class The products, technologies and valuable employees bring to a global leader in engineering plastics, which will enable our products and people to continue to grow together. "
Celanese plans to integrate Nilit Plastics' nylon-modified product portfolio (http://www.nilit.com/plastics/) and production capabilities into Celanese's engineering plastics business. Products registered as follows will be included:
FRIANYL® nylon flame retardant grade products: used in the electrical and electronics industry, meeting the most demanding industry requirements, and reaching almost all color matching capabilities.
NILAMID® technology-grade products: for the industrial and automotive industries.
NILAMID® specialty grade portfolio: for applications with extended requirements for thermal, electrical, mechanical and wear resistance.
ECOMID® product grade: Modified based on high-quality nylon fiber and textile recycling. It is a highly competitive product with both quality and batch stability.
(In order to adapt to the new market trend, Nilit Plastics has newly developed the "XS" and "XT" product series. NILAMID® XS products refer to semi-aromatic nylon-based blends, and FRIANYL® XT refers to polyphthalamide. (PPA) is a series of blended products of substrates, these products provide high thermal stability and high mechanical strength properties.)
The composite materials produced by NILIT Plastics are based on polyamides 6 and 6,6 (PA6, PA66) and different types of partially aromatic polyamides, including polyphthalamide (PPA). The department is committed to high-quality special materials, and has developed more than 3,000 different formulas in the past 40 years. Many products have obtained independent authority certification, and more than 85 modified products have obtained UL and VDE. Flame retardant and electrical performance certification. Yili Plastics has blending and modification plants in Europe and China.
Subject to usual delivery conditions and government approval, the parties expect to complete the transaction in the second quarter of 2017. Until the transaction is completed, Celanese and Nilit Plastics will continue to operate independently.